Category WEF Universal Basic Income

Sep 7 2022

Wow, Europe Household Electric Bills Estimated to Jump by $2 Trillion Next Year, That’s 12% of Their GDP


Posted originally on the conservative tree house on September 6, 2022 | Sundance

What is predicted to happen in Europe is just stunning, literally stunning.

♦Context – According to official data from the World Bank, the combined Gross Domestic Product (GDP) of the European Union was just over $17 trillion US dollars in 2021. That is the last calculated measure.  The combined GDP value of European Union represents roughly 12.78 percent of the world economy.

According to analysts for Goldman Sachs, the current energy crisis in Europe has increased electricity prices at a rate that is increasing almost daily.  Within the data it is now estimated that households within the EU will pay an additional $2 trillion for electricity in the next year.

Put that $2 trillion into context with their GDP, and that scale of energy cost would be wiping out 12% of the purchasing strength within the total EU economy.  Forget about buying anything else, if this analysis is correct Europeans will be buying food and energy, nothing else.

If you consider what that means, it is bordering on full economic collapse of western Europe.

What is being described above is what we posited when we outlined the impact of the “Energy Economy” {Go Deep}.  When you suck 12% of the purchasing power out of an economic engine simply to maintain the status of current energy use, everything else starts to collapse.

Also keep in mind we are only talking about the direct impact of $2 trillion in electricity cost.  The downstream consequence is far greater because everything created, produced, or manufactured, including food, is dependent on electricity – which will drive the final cost to produce of all those products even higher.

The damage is almost unimaginable in scale.

[Fortune] – European households should brace for an expensive winter owing to the continent’s deepening energy crisis that will likely send electricity and heating bills soaring.

Energy affordability in Europe is reaching a “tipping point” that could peak next year, with total spending on bills across the continent growing by 2 trillion euros ($2 trillion), a Goldman Sachs research team, led by Alberto Gandolfi and Mafalda Pombeiro, said in a note published Sunday.

Many European households are already feeling the bite of a steadily worsening energy crisis, brought on by Russian natural gas producers intermittently pausing flows along the critical Nord Stream pipeline following Western sanctions this year.

Energy bills at some restaurants and coffee shops have already more than tripled this year, but with threats looming that natural gas supply from Russia could become even tighter as the Ukraine War rages on, analysts warn that Europe’s coming struggles are set to rival some of the worst energy crises on record.

“The market continues to underestimate the depth, the breadth, and the structural repercussions of the crisis,” the Goldman Sachs analysts wrote. “We believe these will be even deeper than the 1970s oil crisis.” (read more)

The economic contagion will not be isolated to Europe.

The impacts to the social fabric are also almost unquantifiable in scale.

Example: What happens to migration patterns when economic migrants are now considered a threat to scarce resources?

While the US is not quite in the same level of energy desperation, what we were discussing last week is an example of the problem we too may face.

Let’s say you are an average USA Main Street household with an income around $100,000/yr, and you now face an increase in electricity rates from $300 to $500 due to Joe Biden’s new national energy policy known as the Green New Deal.  That’s $200 more per month for this initial economic/energy “transition” moment.

That extra $200/month equates to $2,400 per year.

That $2,400 per year is static economic activity.  Meaning nothing additional was created, and nothing additional was generated.  The captured $2,400 is simply an increase in the price of a preexisting expense.

Take that expense and expand it to your community of 100 friends and family households.  The $2,400 now becomes $240,000 in cost that doesn’t generate anything.  $240,000 is removed from the community economy.  $240,000 is no longer available for purchasing other goods or services within this community of 100 households.

The economic purchasing power of the 100-household community is reduced by $240,000 per year.

Take that expense and expand it to your county of 10,000 households.  Now you are reducing the county economic activity by $24 million.  In this county of 10,000 households, $24 million in economic transactions have been wiped out.  Meals at restaurants, purchases of goods and services, or any other spending of the $24 million within the county of 10,000 households (approximately 25,000 residents) has been lost.

Now expand that expense to a larger county, quantified as a mid-size county, of 50,000 households.  The mid-sized county has lost $120 million in household economic activity, simply to sustain the status quo on electricity rates.  Nothing extra has been generated. $120 million is lost.  The activity within the county of 50,000 households shrinks by $120 million.

Expand that expense to a large county of 100,000 households, and the lost economic activity is $240 million.

Expand that expense to a small state of 1 million households (2.5 million residents), and the lost economic activity is $2.4 billion.

Expand that expense to a state with 5 million households (approximately 12 million residents) and the economic cost is $12 billion in lost economic activity unrelated to the expense of maintaining the status-quo on electricity use.   This state loses $12 billion in purchases of goods and services, just to retain current energy use.

These examples only touch on household expenses.  The community, county and state business expenses for offices, supermarkets, stores, etc. are in addition to the households quoted.

Meanwhile the Gross Domestic Product (GDP) of the community, county and state, remains static because the GDP is calculated on the total value of goods and services generated in dollar terms.  The appearance of a static GDP is artificial.  In real Main Street terms, $12 billion in economic activity is lost, but the price or increased value of electricity hides the drop created by the absence of goods and services purchased.

Fewer goods and services are purchased and consumed.  However, statistically the inflated price of electricity gives the illusion of a status quo economy.

Now expand that perspective to a national level and you can see our current economic condition.

All of this is being done under the justification of “climate change.”

Previously I would have said this level of economic impact in Europe would lead to a total revolt against the government.  However, with the backdrop of the recent COVID lockdowns and government control mechanisms in mind, and looking at the citizen compliance that took place in response to those government mandates, it is now more likely the citizens in Europe will simply bow to the energy control mechanisms of the governing authority.

It’s almost as if the COVID compliance effort was the test…

Sep 6 2022

Liz Truss Becomes PM – Dark Day for Britain


Armstrong Economics Blog/BRITAIN Re-Posted Sep 5, 2022 by Martin Armstrong

Liz Truss has been made Prime Minister of Britain. This was expected, but also the darkest day possible for Britain. Previously, UK Defence Secretary Ben Wallace had backed Liz Truss’ view that Russian forces must be pushed out of “the whole of Ukraine” – and suggested this should include Crimea. Even the Guardian at the time had accused Liz Truss’ position was “recklessly inflaming Ukraine’s war to serve her own ambition.” Meanwhile, in Russia, this was playing out on TV endorsing World War III.

Everything that can possibly point to war is unfolding before our eyes. There are no peacemakers left in the world. Every leader appears to be pushing for war because the monetary system is cracking. Those who think that Russia starting its own gold market will eliminate the manipulations in London do not understand what is taking place. This is the dividing of the world economy that simply follows removing Russia from SWIFT and joining with China to make CIPS the leading global platform for international commerce. This is not about gold prices in Russia v London. This is about the end of GLOBALIZATION and the world economy so carefully constructed post-WWII.

The leaders in the West have been borrowing year after year with no intention of ever paying anything back The lowering of rates to negative in Europe in 2014 undermined the pension funds in Europe as they are effectively insolvent in most cases if they stuck to Euro debt. The Scandinavian funds are outside the Euro and while some struggled to pretend to be “green” they did their best to limit those losses.

When we look at British Politics, it appears that there will be a big shift in 2025. Look off to 2031. That is where the computer is picking up a Panic Cycle, which is corresponding to 2032. As I have warned, the risk of international war appears to be unfolding post-2024. And as far as that inflation goes, it looks like all the sanctions on Russia have backfired. Yet no Western politician will dare tell the truth. And they are now going after farmers? We are staring at serious civil unrest rising globally next year for these brain-dead WOKE politicians who are destroying our way of life.

Sep 6 2022

British News Broadcaster ITV Creates Gameshow for Desperate Viewers to Win Chance to Have Energy Bills Paid


Posted originally on the conservative tree house on September 5, 2022 

Yes, it’s like something out of a dystopian ‘hunger games’ movie, except it is unfortunately real life.  ITV News in Great Britain is running a wheel-of-fortune type marketing campaign where desperate viewers can call in for an opportunity to spin the wheel and win having their energy bills paid.

Comrades, it is not a spoof, this actually took place today and it looks like it will continue due to popular demand.  UK citizens are facing astronomical increases in energy bills as a result of the EU green climate change agenda in combination with Russia halting the export of natural gas.  The price of natural gas increased 30% today alone as Russia cuts off supplies completely.  Europe is on the brink of the worst economic recession in history.

ITV steps in with a promotional effort that shows just how bizarre this Build Back Better future has become.  Perhaps next week viewers might be able to call in for a chance at winning extra food rations, chocolates or even gasoline.  Here’s a video to show what is happening.  WATCH:

.

Good luck comrade citizens, you too could be a winner on the wheel of survival.  It’s all in good fun comrade. Smiles everyone, smiles.

Sep 1 2022

UK Energy Bills Expected to Rise 80% in October


Armstrong Economics Blog/BRITAIN Re-Posted Sep 1, 2022 by Martin Armstrong

The entire West will face higher energy prices due to climate initiatives and Russian sanctions. The British energy regulator Ofgem released a troubling report citing that the average household will pay $4,200 on energy over the next year, compared to the current $2,330 annual average.

The UK raised its energy price cap in April by 54% and is expected to raise it once more this October by 80%. “This will be devastating for many families,” Jonathan Brearley, chief executive of Ofgem, told the BBC. “The difficult news I have to give today is that prices look like they are continuing to rise.” This is a drastic understatement.

An Ipsos poll found that one in 10 people already find it “very difficult” to afford energy costs over the past three months, and two in 10 found it “fairly difficult.” Over a third have installed a smart meter, and two in five have tried price comparison websites to no avail. People are already unable to afford energy costs, and 29% admitted to dipping into savings to do so, while another 15% said they missed payments entirely.

The term “fuel poverty” is now commonplace and is used for households that spend over 10% of their net income on energy bills. The University of York forecast that two-thirds of households in the UK will face fuel poverty by the beginning of next year. Families with children are the most vulnerable. This is a direct result of lawmakers pushing the climate change agenda with ZERO alternative solutions in addition to blindly supporting Ukraine at the expense of their own people.

Sep 1 2022

Trudeau Throws C$100 Million at Woke Agenda


Armstrong Economics Blog/Canada Re-Posted Sep 1, 2022 by Martin Armstrong

As Canadians grapple with inflation, most taxpayers are eager to spend money on 2SLGBT programs and awareness. Well, at least that is what the Trudeau Administration falsely believes. The government has budgeted C$100 million for 2SLGBT initiatives. Sadly, they have the power to spend this money recklessly without the taxpayers’ consent.

I had to look up 2S since the acronym continues to grow by the day. The first search result in Google is from a website intended for Canadian children to understand the infinite amount of genders:

“Two-Spirit (or 2 Spirit or 2S): an important term within some Indigenous cultures and for some Indigenous people, meaning a person with both a feminine and a masculine spirit living in the same body. This is often used to describe sexual orientation, gender identity and/or spiritual identity.”

It is a shame that this is what children are learning in classrooms. So where in the WTF is this money going? Apparently, 75% will go toward diversity and inclusion, “where the real work of support comes from,” Trudeau said. That is a very broad way to say they plan to use the money however they see fit. Around C$5 million will go toward a public awareness campaign, and an additional will C$7.7 will be spent on data collection and research.

People can live life however they see fit. I do not care what you do behind closed doors. However, the taxpayer should not need to foot the bill for this alternative lifestyle. This plan will only cause people to feel a divide between traditional vs alternative lifestyles. Even many with alternative lifestyles see that this woke agenda has gone too far. “This will guide our ongoing work to fight discrimination, break down barriers, to advance rights, and to build a future where everyone in Canada is truly free to be who they are and love whom they love,” Trudeau said. Love thy neighbor for free and not at the cost of C$100 million.

Aug 25 2022

The World According to Schwab?


Armstrong Economics Blog/Economics Re-Posted Aug 25, 2022 by Martin Armstrong

QUESTION:  Dear Mr. Armstrong,
First, thank you for all the wonderful work you do. I have been following your blog for many years and am always amazed at your insight and historical knowledge. I had a question regarding your assertion that the WEF/ Globalists will not win. I am assuming you mean that their vision of a worldwide Chinese-style technocracy run by the United Nations will not take hold. But if we are also looking at the certain breakup of the United States from which there is no turning back, a defeat in WWIII with China and Russia as they win and rise to be the main players on the world stage, are we not losing everything, anyway?
How will we ever hope to restore peace, liberty, democracy, and prosperity as most American citizens understand it if China and Russia end up controlling everything, and our country is left permanently fractured and therefore weaker?
Again, thank you for everything you do to help people understand what’s coming down the road. Your insight is always invaluable.

EM

ANSWER: All we can do is look at history. As my mother used to say, “There’s a time and place for everything.” What we are looking at is simply the natural cycle of the rise and fall of nations. Schwab will fail with Soros, and their dream of a one-world government is absolutely stupid, and it illustrates that both are totally ignorant of history or humanity. Just look at Congress. They vote on party lines. There is no agreement, and you really expect that the world can be brought to a one-world government?

The EU is not working, and that was the very same theory. The old tensions and distrust go back centuries in Europe. The Germans refused to join if all the debts were combined, and now you have countries complaining that one pays more in interest rates than another. Here is the former head of France stating in Parliament that the entire idea of the EU was that this one-European government would end all European wars. This was pushed by Schwab and Soros.

The EU Commission came to our 1997 WEC in London. I warned them that this would fail without the consolidation of the debts. They said that they just had to get the euro in and then worry about the debts later. I tried to explain the crisis to Kohl, but he would not listen. He would not even put joining the euro to a vote, knowing that the German people would reject the whole idea.

When Rome fell, it broke up into fiefdoms. The barbarians issued coins that imitated that of Rome. They pretended to be Roman, for they wanted the air of that civilization. There was no unity — all separated enclaves. It was not until Charles Martel (c. 688–741), who established the Caroline dynasty, where Charlemagne (747–814 AD) was eventually crowned as Emperor of the Holy Roman Empire by the Pope. Do you see the trend to create unified states once more?

Therefore, following the collapse of Rome, it was the typical cycle of 31.4 x 8.6 years = 270 years before we began to see the rise once again of formal civilizations. Europe had broken apart into simple fiefdoms that were not united. The unification came only because the Arabs began to seek the conquest of Europe and Charles Martel began to rise up to defend when became Europe once again after the Battle of Tours. He unified the Franks into a nation-state.

When Charles died, he divided Francia between his sons, Carloman and Pepin. Charlemagne came to power under Pepin. Pepin’s death opened the door to civil war as the conflict between his heirs and the Neustrian nobles who in turn sought their own political independence.

While the silver denier became the coin of Europe during the 8th century, it was not until the 13th century that we see gold reemerge as coinage. In actual Europe, that took nearly 800 years to pass before gold coinage reappeared.

However, after the Great Monetary Collapse of gold in the Byzantine Empire in 1092, it took 172 years for good gold to reappear in Europe. When Constantine founded Constantinople in 330 AD and moved the capital of the Roman Empire from Rome to his new city, which is now Istanbul, the seat of power shifted from Byzantium back to Europe. That interval was again about 800 years.

Columbus was trying to get to India, which was the financial capital, for it moved to Asia after the fall of Byzantium. That is why he calls the Americans “Indians.” He chose the wrong Greek mathematical who thought the world was round but smaller than it actually is. Columbus’ discovery of America was by sheer accident.

The West will fall and fragment. I do not see the US being occupied by Russia and China. There will be no one-world government. That is NEVER going to take place. Even in the aftermath, when the West has fallen, you will then see Russia and China become foes. Cycles are inevitable. So the world, according to Schwab, is the dream of a fool who ignores human nature and history.

Aug 20 2022

Our Plan is More OBVIOUS Than Ever! – News Update


Awaken With JP Published originally on Rumble on July 26, 2022

Klaus Schwab and the World Economic Forum are trying to block the sun? This and more news that should worry you in this week’s update!

Aug 20 2022

Interview: An Introspective Look At The Collapsing Republic & Push For Global Totalitarianism


Armstrong Economics Blog/Armstrong in the Media Re-Posted Aug 20, 2022 by Martin Armstrong

“Massive civil unrest in the US starting in 2023, Word War 3 on the horizon, inflation to only get progressively worse, and the elites going all out to push their Great Reset on humanity. Legendary economic forecaster and astute scholar of history and human nature Martin Armstrong speaks with Ryan McCormick from The Outer Limits of Inner Truth (https://www.outerlimitsradio.com/martinarmstrong) to discuss his predictions and insight on the topics above.

Armstrong reveals what to expect and what people can do in the volatile years ahead. Also, if we can weather the storm till 2032, things should clear up, and humanity should be knee-deep in a peaceful enlightenment period by 2040.”

Aug 20 2022

The Outlier of the West, Japan Core Inflation Rises 2.4% Year Over Year


Posted originally on the conservative tree house on August 19, 2022 | Sundance 

If you have been following along, you might remember the note we made in July about not every country willing to go along with the western agenda on energy reduction, climate change, and raising interest rates to shrink their economy down to the scale of diminished energy development {Go Deep}.

In addition to Russia, China, Iran, Brazil, South Africa, Argentina and India vociferously retaining their own economic and monetary independence, Mexican President AMLO literally blasted the program while visiting the White House and the Bank of Japan refused to join the mantra to raise interest rates.   Essentially, all of the aforementioned nations see the collective Build Back Better program for what it is, a path to poverty.

As a result of their non-compliance with the global bankers, which, not coincidentally I would point out, coincided with the assassination of Shinzo Abe, the government of Japan has been getting blasted by the proverbial ‘west’ (U.S, Canada, U.K, Europe and Australia).

Japan is attempting to deal with inflation by focusing on increasing energy production and security (the supply side); while the rest of the western group have been chasing the false promise of decreased inflation by lowering the demand side, ie. pretending not to know their energy policy is creating the increases in costs.

As a result of the distinctly different monetary approaches, the financial system has been trying to punish Japan and the financial media have been trying to point out every flaw in the Japanese economy as a result of their noncompliance.   However, as you will see in this Reuters article, the July inflation within Japan is moderating.  Inflation in Japan is 2.4% for July (year over year).

TOKYO, Aug 19 (Reuters) – Japan’s core consumer inflation accelerated in July to its fastest in seven-and-a-half years, driven by fuel and raw material prices and adding to the costs of living for households yet to see significant wage gains.

In a sign of broadening price pressure, the so-called “core core” index that strips away not just the impact of volatile fresh food but energy prices, also rose in July at the fastest annual pace in more than six years.

While inflation exceeded its 2% target for four straight months, the Bank of Japan (BOJ) is likely to remain an outlier in keeping monetary conditions ultra-loose with price rises still modest compared with other major economies.

“Food prices and a weak yen were the main culprits behind accelerating inflation,” said Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities, adding that he expects core consumer inflation to reach 3% this year. (read more)

It is funny to see Reuters put out a *shock* styled article for 2.4% core inflation.   In the U.S. Joe Biden would be celebrating 2.4% inflation right now; however, his energy policy is driving that CORE inflation number well beyond 6%.

Japan is still in a tough place with increasing prices for their citizens, but it is nowhere near the scale of Europe and North America.

While their currency is suffering from not following the western agenda, they have several upsides.  First, exports from Japan to the United States and the EU now become even cheaper. With a higher dollar value, Japanese imports into the United States come at a discount.  This will help Japan export goods and retain a strong export economy.

Second, with Japan already a massive investor inside the United States, the dollars that are generated in profit from their operations are delivered back to Japan at a higher value.  A higher dollar value, the outcome of their breaking from the western central bank decision to raise rates, does not hurt Japan.  They bring back high valued dollars from their decades in investment into North America, and they continue exporting to the U.S. at a discount.

So, the nationalist outlooks of Japan, Brazil and even our Mexican neighbors are reflecting a pragmatic self-interest that so far has withstood the pressures from the western alliance to fall into line.  This is how those three countries are positioned to push back against the insufferable BBB agenda.

We can use the example of those western industrialized nations to show that not everyone is in alignment with this globalist multinational finance and corporate takeover.

Aug 19 2022

The UK has a Refugee Problem


Armstrong Economics Blog/BRITAIN Re-Posted Aug 19, 2022 by Martin Armstrong

Migrants are risking their lives by boarding small boats to cross the English Channel to the UK. Over 600 people on 14 ships reached Britain last Saturday alone. About 1,843 illegal immigrants crossed into the UK in 2019, but that number quickly multiplied to 28,526 in 2021. Now, the nation is bracing for 60,000 undocumented illegal immigrants in 2022.

The government does not know how to handle the giant influx. Former Prime Minister Boris Johnson did recognize the problem, but his strategies failed. Brexit allowed us to take back control of legal immigration by replacing free movement with our points-based system, we are also taking back control of illegal immigration, with a long-term plan for asylum in this country,” Johnson said in a prepared speech. Yet, the woke crowd will not let the UK expel immigrants despite not having the capacity to handle such a sharp uptick in arrivals.

There was the failed flagship Rwanda policy that suggested flying migrants to Rwanda, Africa. One flight was attempted before it was grounded at the last minute by the European Court of Human Rights. Some in the UK blame France for allowing migrants to pass their waters into the UK. The real culprit is former German Chancellor Angela Merkel, who opened Germany up to all Syrian refugees and, therefore, the EU’s borders to any asylum seeker years ago. The Mediterranean nations in the EU have been asking for help to no avail.

The UK has more options since Brexit but must tread lightly. The Royal Navy cannot simply sink ships filled with women and children. Smugglers are running the seas and navigating these small boats to UK shores from the EU or Turkey. The potential of a life sentence for smuggling does not seem to be enough of a deterrent. The UK has a broken asylum system that needs to be fixed as the radical uptick in undocumented arrivals is unsustainable.